Question

i need help with my homewrok PLEASE CHECK WORK number 9

Answer 1

The formula to use is,

$A=P(1+\frac{r}{n})^{nt}$

Given

$\begin{gathered} P=\text{ \ 2500}=Now \\ A=Next \\ r=4\%=\frac{4}{100}=0.04 \\ n=1,t=1 \end{gathered}$

Therefore,

$\begin{gathered} Next=Now(1+\frac{0.04}{1})^{1\times1}=Now(1+0.04)=Now(1.04) \\ \therefore Next=Now\times1.04 \end{gathered}$

Hence, the answer is

$Next=Now\times1.04\text{ \lparen Option C\rparen}$